New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 10, 2014
12:25 EDTRT, ALLY, BBBY, GM, IMPV, RAD, EBAYOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite U.S. jobless claims dropping to their lowest level since 2007. Stocks began the session slightly lower following disappointing trade data from China, but the market seemed to briefly try and make a move into positive territory shortly after the opening bell. The attempt was short circuited when the tech-heavy Nasdaq began to weaken and the averages have continued to drift lower throughout the morning, leaving the Nasdaq down more than 2% near noon. ECONOMIC EVENTS: In the U.S., initial claims for unemployment benefits fell to 300K last week, hitting their lowest weekly level since May 2007. However, many discounted the figure, which can be volatile around March and April due to the timing of Passover and Easter, as well as other seasonal factors. Export prices rose 0.8% in March, while import prices grew 0.6%, both of which were greater than expected advances. In China, exports fell 6.6% from a year earlier in March, while imports plunged 11.3%. Economists had predicted year-over-year gains for both. COMPANY NEWS: Shares of eBay (EBAY) fell over 2.5% after the online marketplace operator struck a deal with noted investor Carl Icahn to end his proxy contest before the company’s upcoming annual meeting. The company agreed to Icahn’s suggestion to appoint David Dorman, a founding partner of Centerview Capital Technology, as an independent director and Icahn withdrew both his proposal to separate the company’s PayPal business and his two nominees to the company’s board... Shares of Ally Financial (ALLY), which was formerly the auto finance and financial services arm of General Motors (GM), were lower in their first day of trading following the company's return to the public markets. The Treasury Department, which had been Ally’s majority shareholder after rescuing it during the 2008 financial crisis, raised $2.38 billion by selling 95M shares at $25.00. General Motors made news again as well by confirming that two of its engineers have been placed on paid leave as part of the company's ongoing ignition switch recall probe. MAJOR MOVERS: Among the notable gainers following their earnings reports were drugstore operator Rite Aid (RAD), which rose 10% and casual restaurant owner Ruby Tuesday (RT), which gained 13%. Among the noteworthy losers was home furnishings retailer Bed Bath & Beyond (BBBY), which dropped over 6% after the company's first quarter profit outlook significantly trailed analysts' consensus estimate and the stock was downgraded to Neutral at Bank of America Merrill Lynch. Also lower were shares of data security solutions provider Imperva (IMPV), which plunged 41% after the company slashed its first quarter profit and sales outlook and the stock was downgraded at both Deutsche Bank and Oppenheimer. INDEXES: Near midday, the Dow was down 124.91, or 0.76%, to 16,312.27, the Nasdaq was down 92.72, or 2.22%, to 4,091.18, and the S&P 500 was down 21.90, or 1.17%, to 1,850.28.
News For EBAY;GM;ALLY;RAD;BBBY;RT;IMPV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
December 16, 2014
07:30 EDTGMGeneral Motors retreats in pre-market after analyst downgrades shares
GM shares are falling in pre-market trading after RBC Capital downgraded the stock to Sector Perform from Outperform, citing weak auto trends in North America and overly optimistic targets by the company. WHAT'S NEW: In North America, GM will face slowing demand, negative pricing trends, and higher regulatory and content costs, RBC Capital analyst Joseph Spak wrote in a note to investors today. The company's target for 10% profit margins in North America appears to be optimistic, given competition from the major Japanese automakers, which are benefiting from yen weakness, the analyst stated. Similarly, GM's Cadillac sales targets also seem ambitious, as it faces competition from German competitors that are in a strong position in North America and have a foothold in China, according to Spak. The analyst reduced his price target on the stock to $35 from $41. PRICE ACTION: In early pre-market trading, GM fell nearly 1% to $30.75.
06:33 EDTGMGeneral Motors downgraded to Sector Perform from Outperform at RBC Capital
Subscribe for More Information
06:28 EDTRADRite Aid upgraded to Buy from Neutral at UBS
Subscribe for More Information
December 15, 2014
13:16 EDTGMUAW head looking for wage hikes in new contract, Automotive News says
Veteran auto workers should get a wage increase in a new contract, while the compensation of newly hired employees should move closer to that of longer serving workers, UAW President Dennis Williams said today, according to Automotive News. Williams said he is not considering launching a strike when the auto workers' contact ends in September, the website added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).Reference Link
11:30 EDTGMGeneral Motors management to meet with Sterne Agee
Meeting to be held in New York on December 19 hosted by Sterne Agee.
08:26 EDTEBAYeBay putting more focus on alternative lending, FT reports
Subscribe for More Information
06:55 EDTGMTakata tightening restrictions on suppliers, Reuters reports
Subscribe for More Information
December 12, 2014
06:37 EDTEBAYApple online store begins accepting PayPal, Re/code reports
Subscribe for More Information
December 11, 2014
07:49 EDTGMThe New York Times to hold a conference
Subscribe for More Information
05:52 EDTEBAYStocks with implied volatility above IV index mean; DG EBAY
Subscribe for More Information
December 10, 2014
17:58 EDTEBAYeBay considering cutting 'thousands' of jobs next year, WSJ reports
Subscribe for More Information
17:35 EDTEBAYeBay considering cutting 'thousands' of jobs next year, DJ reports
11:50 EDTEBAYeBay says no decision made on new company boards, Bloomberg reports
Bloomberg cites a comment from the company, which follows an earlier Re/code report that said eBay CEO John Donahoe could leave the parent company's board and join PayPal's board when the companies separate.
10:35 EDTEBAYeBay CEO could join PayPal's board following spinoff, Re/code reports
Subscribe for More Information
08:12 EDTIMPVIT security outlook remains positive, says Pacific Crest
Subscribe for More Information
December 9, 2014
05:34 EDTEBAYChannelAdvisor says Amazon November SSS up 35.7%, eBay up 9.8%
Subscribe for More Information
December 8, 2014
13:52 EDTEBAYeBay advances slightly in down tape after Stifel upgrades shares
Shares of eBay (EBAY) are rising slightly in a down market after research firm Stifel upgraded the stock to Buy from Hold. WHAT'S NEW: The risk/reward ratio on eBay appears to be favorable, Stifel analyst Scott Devitt wrote in a note to investors today. In the most likely scenario for the company, the shares could increase as high as about $65 from their current level of around $55, but are unlikely to drop much below $50, Devitt believes. In a possible bullish scenario, the shares could go up to $75, the analyst stated. The spin off of eBay's PayPal business, expected to occur within nine months, should be a significant catalyst for the stock, while the gross merchandise volume generated by the company's marketplaces business should accelerate in the second half of next year, wrote Devitt. Marketplaces comparisons become easier starting in the second half of the year, the analyst explained. Additionally, eBay will begin to emphasize that the percentage of e-commerce transactions processed by PayPal is increasing, Devitt stated. Meanwhile, eBay's valuation is "compelling," and the upcoming spin-off reminds Devitt of the separation of Expedia (EXPE) and TripAdvisor (TRIP), which proved to be a positive catalyst, he wrote. Devitt set a $65 price target on the shares. PRICE ACTION: In mid-afternoon trading, eBay gained 17c, or 0.3%, to $54.97.
11:10 EDTGMVolkswagen sees challenging developments continuing for rest of year
Volkswagen (VLKAY) said, “The challenging developments on markets worldwide – above all in Eastern Europe and South America – will continue for the remainder of this year. The Volkswagen Passenger Cars brand handled these challenges successfully during the course of the year, but was not entirely immune to their impact.” Other publicly traded companies in the passenger automotive space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), and Toyota (TM).
10:00 EDTEBAYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Buy from Neutral at Citigroup... Apache (APA) upgraded to Buy from Neutral at Citigroup... Applied Materials (AMAT) upgraded to Buy from Hold at Deutsche Bank... Arch Capital (ACGL) upgraded to Outperform from Market Perform at BMO Capital... CU Bancorp (CUNB) upgraded to Buy from Hold at Sandler O'Neill... Calpine (CPN) upgraded to Outperform from Neutral at Macquarie... Commerzbank (CRZBY) upgraded to Market Perform from Underperform at Keefe Bruyette... EastGroup Properties (EGP) upgraded to Neutral from Underperform at Credit Suisse... Enbridge Energy Management (EEQ) upgraded to Equal Weight at Morgan Stanley... Enbridge Energy (EEP) upgraded to Equal Weight from Underweight at Morgan Stanley... GasLog (GLOG) upgraded to Buy from Hold at Stifel... Hoegh LNG (HMLP) upgraded to Buy from Neutral at UBS... Illinois Tool Works (ITW) upgraded to Buy from Accumulate at Global Hunter... LaSalle Hotel (LHO) upgraded at Morgan Stanley... Lufthansa (DLAKY) upgraded to Buy from Neutral at Nomura... NASDAQ (NDAQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Citigroup... Omega Healthcare (OHI) upgraded to Buy from Hold at Jefferies... Orange SA (ORAN) upgraded to Conviction Buy from Neutral at Goldman... SM Energy (SM) upgraded to Outperform from Market Perform at BMO Capital... Southwest (LUV) upgraded at Goldman... TSMC (TSM) upgraded to Buy from Neutral at BofA/Merrill... United Technologies (UTX) upgraded at Bernstein... eBay (EBAY) upgraded to Buy from Hold at Stifel.
06:10 EDTEBAYeBay upgraded to Buy from Hold at Stifel
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use